(Source: Twitter)
In Japan there is only one real buyer of JGBs at these levels… the BOJ. Perhaps in order to hide the fact that the BOJ is monetising its deficit, policymakers have created a social media influencing cyber-pet to convince the population that everyone is a willing buyer.
Kokusai-sensei boldly hopes to promote the myth that there are many willing Japanese buyers of JGB’s. It is all reminiscent of America’s Liberty Bond promotions, except in reverse. Japanese savers are the liberators of their debt enslaved masters. This time around, as history rhymes,